Microsoft (MSFT) shared its financial results for the quarter that ended on September 30, 2022 along with other key Q1 2023 details. Noteworthy data featured in Microsoft's latest earnings report include mention of how Xbox content and services revenue was down 3 percent compared to Q1 2022 despite being up 1 percent in constant currency.
With this, it seems like currency headwinds are causing some difficulty for Microsoft compared to where things were at back in Q2 2022. Other elements affecting Microsoft's earnings include mention of, "declines in first-party content and in third-party content, with lower engagement hours and higher monetization, partially offset by growth in Xbox Game Pass subscrptions."
In addition to Xbox Game Pass subscription growth, Microsoft also noted that Xbox hardware revenue was up by 13 percent. In the report, the following information was shared including the aforementioned Xbox content and services revenue down 3 percent.
Other details shared in the report include Microsoft ‘s earnings results beating revenue and EPS expectations, with revenue hitting $50.1 billion, up 11 percent from the previous fiscal year. For more on the company's earnings report, be sure to check out our guide on where you can listen to the Microsoft (MSFT) Q1 2023 earnings call.